Today’s Economic News:
Mostly great news so far today.
Quote of the Day:
You are not what you own.
–Fugazi, American rock band
Featured Breadth Chart of the Day:
Price action looking stronger and our Zweig actually improving here. We talked about buying the open yesterday and that was a good call. The Zweig needs to show a bit of meekness and weakness. That may not happen if the markets can run today.
Comments and Levels for the Front ES (S&P500 – Emini futures) contract:
Short: 1694
Long: 1686
The bull bought that 1675 area and hard. We ran through our upper level yesterday back to 1694 and and our ATR has turned to a more bullish value. So 1694 is the test area now, we still have a lower high and this should be the area it gets established, between here and 1697. If the bear trenders are correct, we will see another failure in there with a target down to the 1672 area.
On the MiM:
I was not here yesterday, but I did watch the MiM on my android phone and it worked great! So don’t forget that we are mobile friendly with the site. If you have issues, let me know marlin@mrtopstep.com.
The MiM showed a growing imbalance into that 3:20pm ET time frame and it looks like you might have been able to squeeze out 2 if your feel was good. It wasn’t big size, but both symbol count and dollar size were in alignment.
If you want to join the meter readers you can go to: http://closingimbalance.com
Comments about TLT (Twenty year Bond ETF):
The rally from the globex lows yesterday put the TLT into a tail spin, sending it back down into the 105 area for exploring. We want 105.25 to hold and form another reversal to assault the 108 area.
>>> Follow us @redliontrader<<<<<
Breadth Charts in Full :
Zweig Breadth Thrust:
The Zweig is building just a bit here. The price action looks more favorable than the Zweig, though. The bulls need +2:1 NYSE a/d lines, the bears –2:1. Yesterday was 1:1 with good price recovery.
Cumulative Volume Index:
Nothing here.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
Neutral.
New Highs / New Lows ratio chart :
New Highs.
Trenders :
Short Term Trender - McClellan Summation Index:
Bearish.
Long Term Trender - Cumulative 4-week Highs – Lows (the fat lady): 
Bearish.
Thank you for Reading –
Marlin aka RedlionTrader @redliontrader
DISCLAIMER: The information and data in the following report(s) were obtained from sources considered reliable. Opinions, market data, and recommendations are subject to change at any time. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any commodities or securities. RedlionTrader.com, its officers, directors and its contributors may in the normal course of business, have position(s), which may or may not agree with the opinions expressed in this report. RedlionTrader.com, its officers, and directors are not agents, representatives, or affiliates of the CME Group or any trading entity. Trading Futures, Options, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in these report(s) will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Hosting and Newsletter service provided by:
